U.S. Senator Amy Klobuchar Visits New Horizon Academy to Discuss Supporting Moms as They Go Back to Work During This Incredibly Challenging Time
Edina, Minn. (April 6, 2021) – On April 6, 2021, U.S. Senator Amy Klobuchar hosted a press conference at New Horizon Academy in Edina, Minn. During the press conference, U.S. Senator Amy Klobuchar discussed new federal child care and family support funds.
The Senator discussed items in the recently passed American Rescue Plan Act that make up part of her “Marshall Plan for Moms”:
- Child Tax Credit: The Child Tax Credit (CTC) is a federal tax credit that previously provided up to $2,000 for children under the age of 17. For 2021, The American Rescue Plan made the CTC refundable and increased the annual amount to $3,600 per child under age 6, and $3,000 per child between the ages of 6 and 17.
- Child and Dependent Care Tax Credit: The Child and Dependent Care Tax Credit (CDCTC) was temporarily expanded to cover up to 50 percent of qualifying child care expenses (up to $4,000 for one child and $8,000 for two or more children for 2021). The credit is refundable and fully available to families making less than $125,000. Families earning between $125,000 and $400,000 will be allowed to claim a portion of the credit. Previously, families earning $43,000 or less could claim up to $3,000 for one child and $6,000 for two children.
- Dependent Care Assistance Program Flexible Spending Account (DCAP FSA): The American Rescue Plan increased the pre-tax exclusion for employer-provided dependent care assistance from $5,000 to $10,500 for 2021.
New Horizon Academy’s Chief Executive Officer, Chad Dunkley, and two New Horizon Academy parents spoke about the impact the pandemic has had on the child care industry and on their families. “The Marshall Plan for Moms proposed by Senator Klobuchar is long overdue and comes after years of education and advocacy work, said Chad Dunkley, Chief Executive Officer at New Horizon Academy, “While the current benefit extensions are temporary, New Horizon Academy will keep working with elected officials in support of making these items permanent family supports.”
For more information, call (763) 557-1111 or visit www.NewHorizonAcademy.net.
